Forecast for EUR/USD on May 14, 2020

The euro traded in the range of 86 points on Wednesday, taking note of the resistance of the MACD line on the daily chart, it ended the day with a loss of 28 points. The Marlin oscillator did not leave the zone of negative values. We are waiting for the euro to support the price channel in the region of 1.0590.

The price lies on the MACD line on the four-hour chart. Going below the line below 1.0810 will be the primary signal for an intraday price drop. In this case, the signal line of the Marlin oscillator will also be in the negative trend zone. The euro’s fall to the signal level of 1.0767, which has been the lower boundary of the trading range since April, opens the way to a medium-term decline, below 1.0500.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.